Definition:
A vision of an economic system that relies on hydrogen as a major energy carrier, replacing fossil fuels in various applications.
Key Components:
- Renewable Hydrogen Production: Scaling green hydrogen as a primary fuel source.
- Infrastructure Development: Building storage, transport, and distribution networks.
- Market Adoption: Promoting hydrogen use in industrial, transportation, and power sectors.
Use Cases/Industries:
- Power Generation: Using hydrogen for clean electricity production.
- Heavy Industry: Decarbonizing steel, cement, and chemical manufacturing.
- Global Trade: Exporting hydrogen as an energy commodity.
Advantages:
- Decarbonization Potential: Reduces reliance on fossil fuels and mitigates climate change.
- Energy Security: Provides alternative energy sources to diversify supply chains.
Challenges:
- High Initial Costs: Requires massive investments in production, storage, and infrastructure.
- Technological Maturity: Some hydrogen technologies are still in early stages of commercialization.
Related Terms:
Clean Energy Transition, Hydrogen Infrastructure, Green Hydrogen
Example:
The European Union’s hydrogen strategy aims to invest $500 billion in hydrogen infrastructure by 2050, supporting a clean hydrogen economy.
Visited 1 times, 1 visit(s) today
Synonyms:
Hydrogen-Based Economy, Low-Carbon Energy Economy
